President Barack Obama moved one step closer Monday to getting his wish of having an economic stimulus package passed by Congress before Presidents Day, next Monday, Feb. 16.
The Senate approved an $838 billion plan with a vote of 61-36 - 58 "yes" votes from Democrats and only three from Republicans. The Senate plan now must be reconciled with the House version passed last week before getting final approval and advancing to the president for his signature.
While there will be some items of contention in merging the House and Senate plans, the stimulus plan almost certainly will be passed. And it almost certainly will come without the bipartisan support President Obama wanted.
That should not be a surprise, nor a disappointment.
The economic stimulus debate highlights a major philosophical difference between Republicans and Democrats. Republicans believe economic recovery will come through tax cuts to those who can create jobs - "trickle-down" economics. Democrats believe economic recovery will come from government creating the jobs, and by giving tax breaks to consumers who will spend the money, thus creating more jobs.
The Democratic Party is in control of Washington. Because elections matter, Democrats have the power to try to right the economic ship as they see fit. Remember, the major reason Americans voted Obama as president and consented to keeping Democrats as the majority party in the House and Senate is because they felt more confident in their ability to solve economic problems than Republicans.
Whether voters made the right decision remains to be seen. While it would be unwise to say President Obama's legacy will be determined by the success of this economic stimulus attempt - so many things can and will happen between now and November 2012 - it is safe to say much of his political stock is riding on the outcome.
So, too, is his party's stock. Democrats will own the stimulus plan, as they should. Republicans largely have opposed the plan, as they should. It goes against their fiscal philosophy.
While it certainly would be more peaceful for Democrats and Republicans to agree on a stimulus plan, and not have partisan bickering, it is unrealistic. Neither Republicans nor Democrats should be expected to compromise on fiscal values so central to their parties' existence.
The nation's economic fate really was in the voters' hands two months ago, when they went to the polling places and cast their ballots. They voted to try the Democrats' approach, and over the next many months we will see if that was the wise choice.
The Senate approved an $838 billion plan with a vote of 61-36 - 58 "yes" votes from Democrats and only three from Republicans. The Senate plan now must be reconciled with the House version passed last week before getting final approval and advancing to the president for his signature.
While there will be some items of contention in merging the House and Senate plans, the stimulus plan almost certainly will be passed. And it almost certainly will come without the bipartisan support President Obama wanted.
That should not be a surprise, nor a disappointment.
The economic stimulus debate highlights a major philosophical difference between Republicans and Democrats. Republicans believe economic recovery will come through tax cuts to those who can create jobs - "trickle-down" economics. Democrats believe economic recovery will come from government creating the jobs, and by giving tax breaks to consumers who will spend the money, thus creating more jobs.
The Democratic Party is in control of Washington. Because elections matter, Democrats have the power to try to right the economic ship as they see fit. Remember, the major reason Americans voted Obama as president and consented to keeping Democrats as the majority party in the House and Senate is because they felt more confident in their ability to solve economic problems than Republicans.
Whether voters made the right decision remains to be seen. While it would be unwise to say President Obama's legacy will be determined by the success of this economic stimulus attempt - so many things can and will happen between now and November 2012 - it is safe to say much of his political stock is riding on the outcome.
So, too, is his party's stock. Democrats will own the stimulus plan, as they should. Republicans largely have opposed the plan, as they should. It goes against their fiscal philosophy.
While it certainly would be more peaceful for Democrats and Republicans to agree on a stimulus plan, and not have partisan bickering, it is unrealistic. Neither Republicans nor Democrats should be expected to compromise on fiscal values so central to their parties' existence.
The nation's economic fate really was in the voters' hands two months ago, when they went to the polling places and cast their ballots. They voted to try the Democrats' approach, and over the next many months we will see if that was the wise choice.
